US and China extend the deadline for commercial truce for another 90 days

The United States and China have extended their trade truce to November 10, just hours before the tariff jump came into force.

In a joint statement, the two largest economies in the world said that the higher tariffs for the goods of the other, announced earlier this year, would be stopped for another 90 days.

The conversations last month ended with both sides, called the “constructive” discussions. The best negotiator in China said in a time that the two countries would insist on keeping the truce while US officials said they were waiting for a final write-off from US President Donald Trump.

On Monday Trump signed enforcement order To extend the tariff truce.

This means that Washington will further delay the imposition of 145% tariffs on Chinese goods, and Beijing will continue its pause on 125% debt for consignments in the United States.

Under the agreement, the United States will hold its tariffs for Chinese imports of 30%, while China will maintain a 10% tariff for US goods.

The extension of the reconciliation will give more time to negotiate “eliminating trade imbalances” and “unfair commercial practices,” the White House said.

He cites a trade deficit of nearly $ 300 billion with China in 2024 – the largest of each of its trading partners.

Conversations will also aim to increase US exporters’ access to China and deal with national security and economic issues, the statement also said.

The return of higher debts would risk more trading in turmoil and uncertainty against the background of the background of the background of the background Concerns about the effect of tariffs on prices and economyS

Trade tensions between the US and China reached a fever in April after Trump revealed new tariffs for goods from countries around the world, with China facing some of the highest taxes.

Beijing avenges his own tariffs, igniting a battle for Tit-Za-Ta, in which tariffs rise in the triple numbers and almost close the trade between the two sides.

The two sides agreed to cancel some of these measures in May.

This agreement left Chinese goods entering the United States facing an additional 30% tariff compared to the beginning of the year, with US goods facing a new 10% tariff in China.

Both countries remain in discussions about problems, including access to China’s rare lands, Russian oil purchases and US restrictions on advanced technology sales, including chips to China.

Trump has recently eased some of these export limitations by allowing companies such as AMD and NVIDIA to resume sales of certain chips to companies in China in exchange for sharing 15% of their revenue with the government.

The United States is also insisting on the retreat of Tiktok by its Chinese owner Bytedance, a move that opposes Beijing.

Earlier on Monday, Trump is not committed to expanding the ceasefire, but said the deals are going well. A day earlier, he urged Beijing to increase his purchases to us soy.

Even with the truce, the commercial flows between the parties were affected this year, with US Government Data Our display imports of Chinese goods in June almost halved compared to June 2024.

During the first six months of the year, the United States imported goods of $ 165 billion (£ 130 billion) from China, which is approximately 15% of the same time last year. US exports to China n approximately 20% on an annual basis for the same period.